To grasp the connotation of "precise" multi bank financial innovation poverty alleviation

The interaction of financial policy and poverty alleviation policy, halfen channel it will lead to the precise poverty alleviation, precise poverty depth, give full play to the leading role of various financial institutions subject and improve the protection mechanism of the precise poverty around the poverty alleviation, financial innovation development and risk prevention and further combine to constantly stimulate endogenous poverty-stricken areas in the development of new energy. Found Chinese Securities Daily reporter recently went to Guangdong, Hunan, Gansu and other research, the local banking regulatory bureau and the banking financial institutions in the practice of precise poverty alleviation process, further increase credit support, and actively promote accurate poverty and stronger products, mode of financial poverty alleviation innovation, while strengthening cooperation with various Guarantee Corporation, policy banks the insurance industry fund, build a multi-level financial poverty alleviation service system, effectively reshape the pattern of industrial development in poor areas, relying on the new economy to resolve the poverty problem. To increase the credit to enhance the efficiency of resource allocation At present, the local banking regulatory bureau to further improve the top-level design, a clear long-term financial poverty alleviation work ideas, and constantly improve the poverty alleviation and development of financial services. Guangdong Banking Bureau on the one hand to relax the poverty area agencies access policy, to promote all kinds of financial resources in the area of equal allocation, on the other hand, the implementation of a more flexible regulatory policies in poor areas, and in the organizational structure, credit policy and other aspects of performance appraisal, to guide the perfection of poverty alleviation mechanism. Guangdong banking regulatory bureau deputy director Ren Qinghua introduced, in Guangdong Province, the policy banks actively play the main role, support for major infrastructure construction in poor areas, commercial organizations to increase poverty alleviation credit investment market operation. In recent years, the eastern northwest area of jurisdiction of the banking loans growth rate higher than the growth of the Pearl River delta. Hunan Banking Bureau is required within the banking financial institutions at all levels and strive to achieve the loan growth rate is higher than the poor areas where year average growth rate of loans, loans to poor households growth rate higher than the average growth rate of loans to farmers, encourage and support the banking financial institutions to help the poor innovation and development of microfinance, micro credit issued in 2016 and strive to 6 billion yuan, 5 years to reach a total of 30 billion yuan. According to the different functions of location policy, commercial, cooperative and other types of financial institutions, promote the establishment of a different classification, support and cooperation for poverty alleviation and development of financial service mechanism." Gansu banking regulatory bureau deputy director Liu Lou said, Gansu province guide banking financial institutions to implement the credit policy, increasing the poverty-stricken areas of infrastructure construction, enriching industrial development, self employment, rural household consumption upgrade, the relocation and resettlement areas such as credit support. As of 2016 3 at the end of 58, Gansu province concentrated poverty county loans 414 billion 700 million yuan, an increase of 29.8%, higher than the provincial average growth rate of 8 percentage points, is 1.37 times greater than the average growth rate of loans. Number of agencies is expected in the next few years, the poverty alleviation work will become one of the focus of the government, and has become an important driving force of stable economic growth. Innovative anti-poverty initiatives shaping endogenous power development "To support the development of poor areas, not only to provide support in the financing, should be given more help from intelligance on." China Development Bank Hunan branch customer five department deputy director Chen Hao said. In the research process, the reporter noted, a number of financial institutions, many provinces have launched financial poverty alleviation initiatives effectively. Hunan Mayang rural commercial bank in terms of security innovation, launched the "micro credit loans" special funds + poor farmers, the product for the 106 poor villages specially, take household loan by the village fiscal system also way, according to village industry development plan, the 106 poor villages within the next three years available to the village financial funds as a guarantee and source of repayment, the loan to farmers, centralized management "in the form of integration to raise impoverished village three years of poverty alleviation funds, guide them to the village as a unit to develop industrial park construction by the poverty alleviation office. In addition, the rural credit cooperatives in Hunan province also plans to strengthen planning guidance, the next step, continue to promote poverty alleviation microfinance business, actively promote the rural industrial convergence, effectively play the role of industry leaders, and actively promote the construction of financial poverty alleviation poverty village service station. Agricultural Bank of China branch in Guangdong province Chinese innovation + urbanization project mode, play a leading role in key projects. According to reports, the bank in the "13th Five-Year" period in Guangdong area to provide not less than 250 billion yuan credit line for the intention of the "three rural" business development. At the same time, the bank relies on the "E farm house", so that farmers can catch the "Internet plus" express, computer, mobile phone, telephone and other intelligent terminal transfer scenarios, connecting farmers, farm shop and County businesses, build up a set of electricity providers, finance, payment and consumption of agricultural products, the information released in one "rural Internet financial ecosystem. Lanzhou bank vice president Yang Yang told reporters that the bank through the precise poverty special loans, and local government to help poor households choose the advantage of agricultural projects, and vary according to local conditions, to explore four kinds of modes: auto loan loans for personal use, poor households and capable of large and poor households, poor households + cooperatives + leading enterprises. According to the introduction, in support of modern agriculture, the line to create a "loan" products closely linked to regional agricultural advantage, focus on the development advantages of Gansu province agriculture industry, and through the analysis of relationship between each link of industry chain business, trade, cooperation and the flow of funds, build a control model of multidimensional integrated rural financial service mechanism and the wind. As of 2016 3 at the end of the month, the Bank of Lanzhou agricultural loans amounted to 33 billion 522 million yuan, accounting for 29.16% of total loans. The reporter also learned that the postal savings bank branch in Gansu province actively innovation "Science + finance" and "Finance + financial" mode, promote the accelerated development of modern agriculture in Gansu. At present, the postal savings bank branch in Gansu Province, the province's county and the network has 401, accounting for 66.39% of the total number of outlets. The bank vice president Zhou Julong said, will further accelerate the pace of product innovation, improve and enhance the service capabilities, to better integrate into the local economic construction. Strengthen risk control to build real poverty management mechanism How to improve the rural financial guarantee mechanism and strengthen risk control of financial poverty, is also responsible for banking institutions attach great importance to the financial problems in the process of poverty alleviation. "Poor areas lack of credit, lack of effective economic model, the effective credit and economic model, you can put the financial water to the poor areas." Ren Qinghua believes that government departments need to provide some means to increase trust in the poor areas, let the credit to really create wealth. Liu Lou said, from a practical point of view, the financial system is not perfect, rural settlement channels, rural credit system lag, poor credit risk management and control is difficult, the guarantee system is not perfect, it is difficult to provide enough credit to finance poverty alleviation function. In the actual process of poverty alleviation, risk prevention and control of pressure level agricultural firms tend to be more prominent. Mayang agricultural firm stakeholders, with the further development of financial poverty alleviation, poverty alleviation loans total is more and more big, the risk prevention and control of agricultural businesses increasing pressure. Recommended the introduction of the insurance mechanism, the implementation of fiscal policy of insurance system on poverty alleviation and microcredit, to encourage commercial insurance agencies to participate in poverty alleviation, poverty alleviation and industrial innovation of insurance products, enhance poverty alleviation industry ability to resist risks, risk prevention and control so as to reduce the pressure of agricultural businesses. Innovation in the way of security, the CBRC and banking financial institutions in some provinces have made further exploration. Agricultural Bank of China Qingyuan branch pilot launched the "land transfer credit", based on rural land ownership registration certification on the farmers according to their needs, apply for loans to the Agricultural Bank, the land resources into loan funds, effectively solve the farmers "mortgage difficult, difficult security problems. Guangdong Provincial Association of free mortgage loans on the part of a good credit record, the difficulties in production and project potential release, to resolve the problem of lack of resources to guarantee the difficulties of the masses. At present, the province's agricultural innovation pilot institutions are speeding up the farmers housing property rights, collective construction land use rights, such as Lin Quan rural property mortgage loan, the cumulative distribution of rural land contracting management right mortgage loans 1 billion 300 million yuan, 1718; farmers housing property mortgage loans 4 billion 300 million yuan, 17304; forest right mortgage loan 7 billion 500 million yuan, 3806 pen. Gansu province also around the credit service innovation and diversification, in order to further improve the availability of credit. Liu Lou pointed out that the flexible use of franchising project usufruct, collective land contracting management right and collective right of return on assets such as credit guarantee for new product design. At the same time, will further strengthen fiscal poverty alleviation in Gansu Province, and other departments of communication and coordination, fully grasp the poverty and poverty alleviation project information, strengthen the project risk management cycle, and effectively prevent and resolve financial risks. Reporter Liu Guofeng steel chamfer

The median price fell by 1.71% yuan of short-term feeding of weak shocks

By overnight dollar index continued to rebound slightly, formwork accessories the market rumors that the recent part of the big firms to purchase foreign exchange buying more influence and other factors, on Wednesday (May 25th) dollar plunged 225 basis points to a 5 year low of more than. Analysts pointed out that the recent dollar rate hike is expected to heat up due to triggered a rebound may still continue, the RMB exchange rate is expected to remain weak short-term shocks running pattern. The middle price hit a 5 year low of more than In May 24th, the inter-bank foreign exchange market between the RMB exchange rate against the dollar price of 6.5693, compared with the previous day weakened sharply 225 basis points for the second consecutive trading days fell at the same time, refresh since March 2011 5 year low. Since May the RMB exchange rate against the U.S. dollar cumulative decline has reached 1104 points or 1.71%, the overall performance was weak. Although the median price fell sharply, the spot exchange rate of RMB was significantly lower on Wednesday, but after the overall decline is still relatively small. At the close, the RMB against the U.S. dollar spot exchange rate closed at 6.5620, slightly higher than the previous trading day down 53 basis points, or 0.08%. At the same time, the spot exchange rate of RMB trading on Tuesday 6.5658 all day long lows, also hit a three month low. Although the domestic RMB exchange rate and the spot exchange rate fell significantly, but on Wednesday the Hongkong market of RMB against the U.S. dollar exchange rate is CNH the running pattern of a narrow range, no obvious weakness. As the Beijing time 16:30 on May 25th, the RMB against the U.S. dollar exchange rate of CNH at 6.5670, compared with the previous trading day down 5 points or 0.01%, and the domestic spot exchange rate spreads narrowed sharply to 50 basis points. The short-term is expected to continue weak shocks Analysts said the dollar index continued to rebound, the big firms to purchase foreign exchange buying more market rumors and other factors, in recent days the central parity of RMB exchange rate shocks mainly due to the weakness of the continuous. From the viewpoint of first-line traders said the market news earlier this week that previously provided for dollar liquidity to start borrowing dollars, nearly two trading days and the number of commercial banks in the spot market and the swap market to buy dollars. Effect of superposition of the dollar index has continued to shock rise, the market parties for the short-term weakening of the RMB exchange rate is expected to rise. From the positive point of view, with the RMB exchange rate, exchange rate, the exchange rate of the offshore CNH spread, the recent significant convergence of domestic and foreign investors for the RMB exchange rate is also expected to be consistent, it will also make the past by the foreign exchange rate, the middle price fell to jump down the spot rate, the future is difficult to once again there. China Merchants Securities said that the strong dollar index in the background, the central bank is raising the volatility of RMB index. On the one hand the use of RMB index slowed down the impact of the dollar index rose, on the other hand to a basket of currencies as the intermediary, the differentiation of the foreign exchange market participants expected depreciation. Data show that as of May 20, 2016, the RMB against the U.S. dollar devaluation is 4 at the end of 1.41%, but the RMB exchange rate against a basket of currencies is still more than 4 at the end of 0.24% appreciation. But for the short-term trend of the RMB exchange rate, the current mainstream market still generally believe that the trend of the dollar index may continue to enlarge the RMB exchange rate fluctuations in the short term, the RMB exchange rate will likely continue weak running pattern of shocks, but the overall level of exchange rate is expected to remain robust. Reporter Wang Hui swivel coupler

Fund qualification examination of 215 people caught in the current performance and discipline to cancel the test ban for one to three years

JINGWAH Times News (reporter Ao Xiaobo) known as the history of the most lively fund qualification exam already ended, ringlock scaffolding but the heat did not disappear. Following the previous half fail the exam yesterday, after the private equity chiefs fund qualification examination, and then a new material, because in the exam cheating, 215 people were disqualified, and the test ban one to three years. Chinese Fund Industry Association yesterday issued "on the foundation of qualification examination discipline staff Treatment Notice", 215 people because of plagiarism and other violations of the list. Discipline is divided into three categories: First of all, the fund industry association made of "without the examination staff agreed to leave the examination room during the examination;" the provisions of articles carried outside into the examination room or not in the specified position ";" in the examination or other prohibited range, noise, smoke or impact test field order "and" during the examination by PEEP, whispering and mutual gesture "31 discipline staff to cancel the examination results and the test ban a year. In addition, the "material" or assist others in plagiarism plagiarism and the examination content and the use or attempt to use communication, storage, recording and other electronic equipment "180 discipline staff, to cancel the examination and treatment of the test ban for two years. Third, the "4 discipline staff to participate in the examination or by others instead of false false instead of others to take the exam" to cancel the examination results and the test ban three years. The Fund Association said, discipline and treatment results in personal credit files, and to inform the examinee in the unit. Public information display, April 27th announced the examination results surprising, to fund industry, most private equity chiefs in industry fail the exam, singing the popular combination of Yu Quan member Hu Haiquan is by virtue of the midnight oil passed. Financial practitioners face disgrace not to say, right now, in order to pass the exam, 180 people still rely on plagiarism to muddle through, financial practitioners once again hit the face of embarrassment. lifting clutches

The establishment of a trust product quantity and the scale of last week were down

According to statistics from the trust studio, from May 16th to May 22nd within a week, the establishment of a trust product quantity and the scale of last week were down, not only set up the scale of decline 4.53%, and the number of the establishment of the establishment of a market decline of 59.10%, slightly cool, trust companies to raise funds have slowed. In the weak economic cycle, trust the traditional business continues to shrink, the new business has not yet formed, "asset shortage still exists. Trust industry's external environment is undergoing dramatic change, increased uncertainty, instability factors, trust companies must re-examine the business and business model selection. The establishment of the scale of decline From the statistical data, from May 16th to May 22nd within a week by the trust bank established "robust capital trust scheme No. 1597, financing scale of 1 billion yuan, for the week of the establishment of the largest investment products for other investment, invest in other areas; the scale of financing the minimum for the establishment of Sichuan Hengda Real Estate Trust" excellent debt capital trust scheme No. 12 fourth financing scale is only 28 million 100 thousand yuan, to invest in the real estate sector. As of May 22nd, in May 2016 a total of 196 models of established products, to raise funds 37 billion 906 million yuan. From the distribution point of view, from May 16th to May 22nd within a week of issuance and scale of the number of the previous week has also slowed, the issue size 59.10% decline, participation degree is 23.53%, indicating that the trust company of products has slowed efforts to issue. From the distribution of investment trust products, the financial sector amounted to 3 billion 503 million yuan, the real estate sector size 1 billion 85 million yuan, based 665 million yuan industrial scale, industrial and commercial enterprises in the field scale 1 billion 386 million yuan. In the domestic income growing background, household sector asset management has a huge market demand, coupled with the trust risk isolation, unique rights reconstruction system advantage, it is worth looking forward to the future development of the trust industry. Yields remain low The average rate of return, from May 16th to May 22nd within a week to set up the trust products expected annual yield of 7.24%, 0.66 percentage point rise last week, the average rate of return rebound, in 7%, has a certain chance. In the short term, affected by the quantitative easing monetary policy, ample liquidity to the market cost of capital down, resulting in fixed income trust products revenue decline; in the long term, the market risk-free interest rate will decline, is expected to maintain the trust product yields will be low. According to the issue of the size and the expected return, the trust studio obtained two years of trust products according to the weekly yield index change trend chart. From the chart, profit index of ups and downs, although nearly two weeks rose slightly, but the overall downward trend. Since November 22, 2014, the central bank has repeatedly RRR cut interest rates, the current one-year benchmark deposit rate has dropped from 2.75% to 1.5%, a decline of 45.46%. In general, financial products revenue and the benchmark interest rate maintained a high positive correlation, with the continued decline in the benchmark interest rate and RRR release liquidity effect gradually, in addition, the deepening of the interest rate market, banks and fixed income trust financial products yields downward or will become the norm. The continuous decline in income trust products, on the one hand is affected by the continuous effect of loose monetary policy, interest rates, on the other hand, because the industry is facing downward economic cycle, overcapacity pressure, trust is difficult to find, the risks and benefits of asset quality. In the current economic structural adjustment in the high income, and security can not coexist, both is not realistic. The continued implementation of the central bank to cut interest rates drop quasi regular financial product revenue is certainly influence with the national economic policy adjustments, it is reasonable. The current economy, should choose a higher safety, income is also good financial and trust products. Reporter Gao Gaifang shuttering magnet

Trust project credit risk anchaoyongdong increased sharply

Reporter Gao Gaifang. There are signs that the credit risk is not only high in the bond market, erection anchor trust in the market is also simmering, ringlock scaffolding projects have gradually increased the potential problems. According to incomplete statistics, as of now, the risk has hundreds of large and medium-sized trust trust project, the company also failed to stay. As a result of the high cost of financing during the existence of the most trust products, compared to the current interest rate, more prone to payment problems. Moreover, with the adjustment of economic structure and economic growth in the central of the depression, the future trust payment problems or default risk will increase. Therefore, the trust industry will face more severe challenges. However, trust in this industry is still relatively optimistic, downlink in the economic cycle, overdue project overall, overdue rate can hardly be avoided, but also in the normal range; with the supervision tends to be strict, the ability to control the wind coming trust and enhance the ability to resolve non-performing, trust products will have a bright future. A quarter of interest when the emergence of default As an example to the National Trust – China World Trade Center – the right of return on equity capital trust scheme. The trust plan was established in 2015 September, a period of 12 months. But the first quarter of this year, the interest suddenly default months only partial payment of interest, but also by the downturn in the steel industry and the continued loss of influence, financing and related enterprises facing bankruptcy, there is no liquidity support repayment. The trust plans to contract, in the name of the trustee trust funds for the transferee holds all of Tianjin iron and Steel Group Tianjin Steel International Trade Co. Ltd. all right of return on equity, supplement their daily business turnover. The trust plans a total size of 200 million yuan, the investment of 1 million to 3 million yuan is expected to yield 8.8%, 3 million yuan to 6 million yuan, the expected rate of return of 9.2%, 6 million yuan more than the expected rate of return of 9.5%, the first quarter of this year, there is a problem after all expected earnings were up 0.3% to 3 million yuan, for example, rate of return is 9.5% the main measures to increase trust; provide irrevocable joint liability guarantee for the Tianjin Tiangang Group Co Ltd for the repayment of the project. In China World Trade Center Tianjin steel company, Tianjin steel is the world's top 500 Bohai iron and steel company, at the time point of view with such a background and the strength of the company to provide guarantee high safety factor no danger of anything going wrong. But no one thought at the beginning of this year, a sudden burst of huge debt of Bohai iron and steel 190 billion yuan to repay, affected by this, the normal interest of the project can not be cashed in also once in. The national trust investment manager said that the current production is normal, a bank loan is not much, but affected, cash flow has little influence, the product does not belong to overcapacity. Interest in March before the five one has been to investors. According to project maturity can the payment of principal, the National Trust project manager said he will make every effort and communication between the parties, when investors asked about communication repayment and the financing party is whether there is a timetable, said it will try our best to guarantee, but from the current Bohai iron and steel products and the industry and the huge excess debt situation, whether the payment is due at doubt, hundreds of debtors in active and financing side communication debt problems, but until now there is no a definite answer. The project increased In addition, the problem of trust plans include: May 2015 due to Everbright trust – Huang decoration city two yuan, the scale of 329 million; expires in December 2014, Xinhua trust – Zhenjiang Guancheng commercial center project usufruct capital trust plan (two), the size of 74 million yuan; will expire in October 2016 2, the Thai trust – convergence, the scale of 1 billion yuan; the Great Wall trust – the Great Wall Xin Sheng – wealth No. 3 Ningbo Xinjin and the right of return on equity investment capital trust scheme, the scale of 200 million yuan…… CICC Research Report, at the end of the first quarter of 527 the trust project risk, involving about 110000000000 yuan; set, single project risk were 60 billion, 50 billion yuan. During the period of economic downturn, the financial situation of some enterprises are still more worried, market concerns about the risk of default was widening credit spreads; and a few years ago due to rapid expansion of the trust business is mainly concentrated in the real estate, coal and other energy fields, are now facing a greater risk of default, the chain size of the trust project risk two digit growth needs pay attention to. The first quarter of 2016 the trust industry operating income, interest income, Business Income Trusts and investment income showed a downward trend; as of the first quarter of 2016, the trust industry realized a total profit of 13 billion 984 million yuan, compared to the first quarter of 2015 fell 17.41%. Falling profits and spreads narrow and the risk of default just against the relevant project. Experts believe that the scale of project risk a double-digit growth for two, have caused the industry attention and alertness, especially the collections trust project risk accounted for 53%, indicating the traditional creditor's rights, to use "point to point" project financing financing trust business has become the hardest hit by the risk of the project. In addition, a single type of risk project trust accounted for 45%, once again that the so-called "business channel" can not sleep without any anxiety, one hundred percent security, and is likely to be "fame and fortune" double loss peibenshengyi. Research Report of studio Trust said that the fourth quarter of 2015, according to the trust industry association data, in 2016 there will be 13283 trust products expire, the scale of 43512 yuan, the collective trust scale of 14401 billion yuan. Even though the trust trust fund and trust fund to protect the industry as a precaution, but the current trust company compensation reserve gap. As of the end of 2015, 68 trust companies trust compensation reserve balance 15 billion 739 million yuan, the total registered capital of 165 billion 251 million yuan. In accordance with the provisions of the trust compensation reserve accumulated amount of trust companies registered capital of 20% can no longer extract, 68 trust companies trust compensation reserve gap 17 billion 311 million yuan, gap rate still reached 52.38%. With the adjustment of economic structure and economic growth in central Chinese down, the future trust payment problems or default risk will increase. Therefore, the trust industry in the future will face more severe challenges. At the same time, the overall size of asset impairment loss of trust in 2015 increased by more than 1 times. Beijing preferred wealth asset management department director Jiang Menglong believes that the trust market of non-performing assets increased, the trust company profits decline, the main reason is the entity of the economic downturn and the real estate market downturn, so as to induce trust product problems, resulting trust non-performing assets accrued a substantial increase. At the same time, the asset quality is also reduced, reducing the profits of the company common trust trust business because of the sharp decline in the amount of. Insiders said that the near term short period of time will not change too much, because most of the products during the duration of the current financing cost is more than 12%, compared with the current interest rates, more prone to payment problems. However, since 2015, the regulatory authorities continue to increase supervision, at the same time, the market interest rates, on the issue of trust products, relative to the previous survey is more rigorous, it will greatly reduce the risk of. The trust industry is still relatively optimistic on the current situation of payment. Senior Manager Wang Tingting Thailand Trust Research Center believes, from the current point of view, although there are some not timely payment of trust products on the market, but in the end, the majority of the trust company or trust funds transferee of assets inherent in the use of the means of payment of investors. Plus the 2016 Chinese Trust Industry Association will be rated for the trust company, and announced. The standard for evaluation, risk control ability occupies nearly half of the proportion, the short term prediction of rigid honor this unspoken rule is difficult to break. The trust company has experienced rapid development in the past few years, in the last years, the past period of rapid development of business basically close to maturity, in the cycle of economic downturn, overdue projects can hardly be avoided, overall, overdue rate is within the normal range. The future, with the supervision tends to be strict, the ability to control the wind trust and enhance the ability to resolve non-performing, trust products will have a bright future. "Asset shortage" intensified Cash rich but good assets to the "asset shortage" this year in the field of trust is evident. A large Shanghai trust trust manager told China Securities News reporter, now an obvious case is a problem from the real estate trust products has spread to the field of mineral classes, art classes such as the trust plan. But the year has been that the great risk Nobumasa project so far is still relatively safe, which also led to the current project financing platform "hard to get a vote". "Now the financing platform of many channels, such as bonds, trust financing costs much lower than. Now we all feel that the low risk financing platform, rushing to do trust government projects, the competition is fierce. Coupled with other production enterprises to reduce financing needs, drawing the will is not strong, the market there is money, so now it is not good to do the project. This is the most obvious change." The trust manager said. According to statistics, the trust network market since 2016, issued a total of 2172 trust products, the total size of 519 billion 379 million 110 thousand, the average rate of return of 7.43%. Compared to the same period in 2015, issued 5792 products, down 62.5%, the decline in the size of 24.7%, yields fell 1.48 percentage points. Beijing preferred wealth asset management department director Jiang Menglong believes that the issue of trust products from the number of point of view, this year than in previous years was significantly reduced. At present each month in the sale of trust products in 30 models, and actively managed projects accounted for relatively large. There are two main reasons: the real estate industry downturn, real difficult financing platform, willing to bear the cost of financing fell sharply, resulting in the traditional real estate trust, trust business, trust business infrastructure atrophy. Most of the trust company to seek transformation, the number of issued fixed income products decreased sharply. Secondly, trust product yields fell sharply. The first quarter of 2016 trust products average annual yield was 7.63%, down 1.29 percentage points over the same period last year 8.29%. Trust products and a decline in interest rates the central bank to cut interest rates are closely related. In addition, in the economic downturn stage, undertaken by the entities and local enterprises reduce the cost of financing, is a direct result of the decline in interest rates of trust products. Thailand Trust Research Center Senior Manager Wang Tingting believes that the trust industry in 2016 start, the overall business volume decline, which is consistent with the current overall economic situation. With the PPP project and promote the government fund industry, the second half of the expected trust business will rebound. fixing socket

The risk management of futures market to create a surge in demand for the real economy "shock absorber"

Reporter Zhang Li Jing Guanping. Since this year, domestic and international commodity market volatility, some futures prices plummeted, the rapid increase in demand for enterprise risk management. The experts said recently at the thirteenth Shanghai derivatives market forum, in the background, the supply side structural reform, asset allocation funds rotation acceleration, preference change speed, through the research on the futures market price fluctuations, enterprises can improve the pricing of raw materials management, inventory management strategy, the implementation of the expansion of production, etc. in the long term development strategy. For the commodities industry, currently is a great challenge, there is the opportunity for transformation. The futures market should seize the historic opportunity to help enterprises make good use of risk management tools, improve service level of the real economy. The price fluctuation of refining industry "without rice" flustered The recent commodity market investors can only estimate the mood of roller coaster analogy. Along with the black line of the "face", including rubber, nickel, asphalt and other commodity prices have jumped down. Commodity volatility is the second half of last year increased significantly. The iron market, capital flow. Analysts believe that the three mismatches in the current commodity market fluctuations in the economy and frequent Chinese not unrelated. One is the real economy down, but the capital expected return rate is still high; two is the social capital "short long less and less tight Duosong"; three is the global economic growth of two engines (Globalization + labor) slow down, but the capital is surplus. In this case, the asset allocation in the pursuit of high risk and often repeated between "grab liquidity" switch, the wheel form of asset allocation. Or 22 kinds of commodities tracked by Bloomberg commodity CRB index this year than the U.S. Treasury bond index and US dollar index rose over the same period, become one of the most profitable in the first half of the investment assets. But in some futures private performance when accompanied by volatility rebound growth, ordinary enterprises are always on tenterhooks by a back roller coaster ". In the face of consolidation high international oil prices, as the recent domestic crude oil imports of new strength refining companies have started to worry about. "If oil prices fell again, then May madness of imported crude oil reserves and relatively weak, conventional production problems in refining enterprises may go bust first." Insiders said. Recently, Chinese petroleum and Chemical Industry Association released the "2016 annual production capacity of petrochemical industry early warning report" said that the rate may be flat or continue to decline by 2016 oil refining industry production capacity, excess capacity is more and more prominent, worthy of attention. The report is expected in 2016 China new refining capacity of 30 million tons, the elimination of backward production capacity of 30 million tons, oil refining capacity remained at 8 tons. The refining capacity exceeds the demand of 1.2 tons. Coincidentally, "repair" has become the main theme to the commodity market this year. In non-ferrous metal futures as an example, this year, copper, aluminum, Shanghai, Shanghai, Shanghai, Shanghai zinc lead tin rebound margin reached 7%-25%. Because of non-ferrous industry supply side reforms continued to force, since last year, aluminum prices, copper prices and other measures to limit production of continuous joint production of nonferrous enterprises. But unlike the lack of crude oil futures tools smelting enterprises, non-ferrous industry enterprises concern about the price fluctuation of ease many, because of the industry chain, most enterprises have long formed the habit of futures hedging. Public data shows, 2015 Chinese crude oil imports rose 8.8%, amounted to 3.36 tons, in the second world, the import dependence continues to record high to 60.8%, or up to 67% in 2020. "As of 12th Five-Year" at the end of Chinese main refinery products – refined oil (gasoline, diesel oil and coal) has been a pile up in excess of requirement market conditions. In January 13, 2016, the national development and Reform Commission announced the new refined oil pricing mechanism, which added $40 / barrel floor price, international oil prices hovering in the downturn, oil prices are not adjusted, so that the beginning of 2016 domestic refinery profits "protection". According to Chinese Securities News reporter, given the large size of the spot market, the development of crude oil industry is still a lack of "authority" price signals to guide and mechanism of risk management. The market system is not perfect, but also makes the development of related industries to achieve docking with the real significance of the global market, and even have to rely on "protection policy". Insiders said that the centralized futures trading transparency, liquidity, market supply and demand. China nonferrous metals industry, especially the two kinds of pricing model of spot trading of common copper industry in futures as a benchmark, with futures price and futures price way to determine the benchmark price of purchase and sale. Therefore, the futures market can accurately and comprehensively reflect the supply and demand and trend of real, plays an important role in guiding production operators. Vice president of China Nonferrous Metals Industry Association Shang Fushan held recently in the thirteenth Shanghai derivatives market forum said that as financial derivatives, futures margin system has the attribute of financial leverage, is a double-edged sword. Good use of hedging tools, is the enterprise to improve risk management, an important means to achieve business objectives, the implementation of supply side reform is also the nonferrous metals industry, speeding up the completion of "three to a drop of one of the important measures for a", especially for the nonferrous metal industry to run in the benefit of investment, import and export decline difficulties under the condition of more enterprises to participate in the market show the importance of convex. At the forum, Teng Jiawei, deputy general manager of Shanghai futures exchange also said that hedging showed a significant growth trend, a lot of practice shows that the enterprise through hedging market risk can be transferred out. In addition, non-ferrous metal futures price and spot price related coefficient remained above 0.9, the copper futures price and spot price correlation coefficient is above 0.93. Nickel futures price correlation good has become the spot price standard. The establishment of virtual inventory for the escort business Since the end of last year, continuing to promote the reform under the background of supply side measures, limiting the production cuts of nonferrous metal industry, resulting in the sharp rise in prices, recently entered the consolidation trend. The upstream and downstream enterprises to enter the intensive compact futures "honeymoon period". "Before a lot of people think that enterprises involved in futures hedging is a gamble, I mean that companies do not participate in hedging is gambling." A Guangdong nonferrous metals trading company official told the Securities Daily reporters Chinese. In recent years, the nonferrous metals industry has undergone great changes in futures knowledge, many companies use futures tools during the volatility of product price to achieve a stable profit. According to the insiders, in the operation of the market, the price of the futures market is expected future price, and this price directly reflects the expected spot changes in supply and demand, reflecting the macroeconomic and financial market and related industries, and at the same time through the delivery mechanism and spot price links, which makes the futures price become an effective reference to the spot management. As China's leading industry, one of the world's top 500 enterprises, JCC 20 years ago or a small copper company. The responsible person has made it clear that the company's development cannot do without futures. Jiangxi copper group deputy general manager Wu Yuneng said, due to purchase and sale of futures prices as a benchmark, and continued to use the futures market to hedge, 20 years of Jiangxi copper's operating performance has been very stable, sustainable development. Jiangxi stronger in the bigger Road, every step cannot do without the futures market and hedging, futures market has played a good role in the protection of. Wu Yuneng said, in the last century 90's "triangle debt" outbreaks, the Jiangxi copper futures as sales channels successfully circumvent the risk. For example, now a lot of downstream copper processing enterprises have to make full use of refined copper futures market to establish virtual inventory of raw materials, to hold down the kind of refined copper raw materials inventory, thereby reducing the cost of funds and the. "After years of development, the futures market has become an effective complement to realize entity enterprise purchase and sale and management, enterprises can make full use of the futures market to achieve the management mode and operation mode change." The market price risk, deal with supply side reforms in Wu Yuneng suggested that enterprises can use the futures market to establish virtual mine. As the cycle of foreign acquisitions of mines, funds, force majeure factors, and use the futures market to establish virtual mine can effectively avoid the above problems. Application Study on futures market to establish the possibility of virtual mine and the operation strategy of domestic enterprises should." He said. Shanghai Normal University Business School professor Cai Dongcheng said that with the development of Chinese oil futures market, and gradually increase the liquidity of the listed products, specification places will provide effective business risk for industrial enterprises. We can gradually improve the product series, with the supply side structural reform, optimization of oil product standards, the use of market-oriented means to guide enterprises to adapt to the changing market demand; at the same time, the oil market sequence is gradually perfect, and long-term standards about the design of the system, can allow enterprises to understand the foreseeable future supply / demand / industry profits between the dynamic relationship, help enterprises to the production and operation of the arrangements and risk aversion, to the adjustment of product structure, and contribute to the crude oil related energy industry long-term healthy development. The futures market innovation more risk tools can be expected Usually the price discovery and risk management is a common way of futures service spot. Wu Yuneng believes that the futures market through price discovery and risk management functions play a role in the service industry on the spot. On the function of price discovery, centralized futures trading transparency, liquidity, market supply and demand. In the aspect of risk management, enterprise through hedging, the spot price volatility risk through the futures market to transfer out, so as to realize the cost of raw materials, inventory and price lock. In the business environment of poor background, it is very important to lock the profit of enterprise. Along with the innovation of the futures market, some enterprises through the use of futures and spot market advantage, has achieved some innovative business models. The new lake futures chairman Ma Wensheng said, from the real business demand for futures market perspective, innovation derivatives market mainly includes three aspects: one is the innovation of commodity pricing system. In the process of enterprises to use the futures market, integration of upstream and downstream industry chain, to further optimize the pricing system of industrial chain, the commodity futures as the benchmark price, or premium pricing, more suitable to open up the upstream and downstream trade chain upstream. Two is the innovation of financing mode. Enterprises use the futures market to manage the price, using the third party warehouse goods, then the bank willing to allocate funds to support the enterprise financing demand, warehouse receipt financing order. By ensuring the safety of funds, development banks often use these patterns to support enterprises. Three is the innovation of risk management tools. In addition to the futures market, there are swaps, options, OTC commodities long-term contracts and other new risk management tools on the market, you can use these tools to provide diversified services for enterprise risk management. Ma Wensheng said, because of the innovation of enterprise operation mode is also undergoing great changes. The enterprise began to price management, risk management transformation, the transformation of some enterprises to commodity traders, some to the fund industry operators transition to some asset management business transformation. These enterprises have emerged in the market transformation, its core is to make good use of derivatives. In addition, the supply side reform of energy industry is an important part of heavy chemical industry field of structural reform, and the guidance of the market will be an important factor in the success of the reform, the authority of the price signal and product benchmark guidelines or become the focus of supply and demand to adapt to each other, to avoid business risks and means is the key to a healthy place the development of the industry. Insiders said that the current China oil futures "everything is money", to be approved by regulators after the listing, the transaction will be listed on the international energy trading center, which opened China crude oil and refined oil futures market development of the curtain series. Oil futures in Renminbi as the currency benchmark will appear in the global energy market series, the business rules and the international community, global investors and enterprises can participate in. The future price of oil market authority signal will gradually mature, or become a key sign industry development.lifting anchor

The Xiamen government bank to help enterprises to "go out" service "The Belt and Road" strategy

Beijing In May 25, scaffolding parts Xiamen (Yang Fushan Xie Wenjing) 25, scaffolding clamps Xiamen SASAC and Xiamen branch of China Development Bank, signed "Xiamen to promote a new round of SOE reform and industrial upgrading" 13th Five-Year "development of financial cooperation memorandum", to help Xiamen enterprises "going out". The same day, the two sides jointly organized to support enterprises to "go out" development "Belt and Road Initiative" strategic political cooperation talks and the signing of the cooperation agreement. According to the agreement, the two sides will development goals and strategic tasks around the city of Xiamen, "13th Five-Year" period, play to their respective resources, information, policy, human resources advantages, to establish cooperative relations, strengthen cooperation and exchanges, to carry out all-round strategic cooperation in Xiamen free trade zone area, the regional financial services center, "The Belt and Road construction etc.. CDB Xiamen branch president Yang Aiwu said, "12th Five-Year" during the service in Xiamen steady growth, structural adjustment, improve people's livelihood, serve the country "The Belt and Road" strategy, support enterprises to "go out" has played a positive role. He said, "13th Five-Year" period, the bank will continue to play a unique advantage of development finance, concentration of credit resources to support the Xiamen city infrastructure, ten billion dollar industry, people's livelihood and other key areas, the comprehensive development of the real economy; at the same time, innovative financing, broaden the financing channels, to realize innovation and promote business service. CDB Xiamen branch was established in August 2011 this year to the end of 4, has a total financing amount is 193 billion 500 million yuan, of which 145 billion 500 million yuan of loans, bond underwriting 16 billion 600 million yuan. The focus of the business advantages, loan incremental growth, non personal RMB long-term loans (in the same period accounted for 17% of the market share), foreign exchange loans (in the same period accounted for 58% of the market share), shed and low-income housing loans (in the same period accounted for 69% of the market share) for many years to keep Xiamen industry first. At the meeting, the Xiamen branch of CDB and Xiamen 20 state-owned enterprises group signed a strategic cooperation agreement, the cumulative amount of nearly 200 billion yuan cooperation. According to the agreement, "13th Five-Year" during the bank and the enterprise groups in Xiamen to further strengthen cooperation, comprehensive support the transformation and upgrading of the "going out". (end) halfen frimeda

The secret behind the scenes: housing prices grab geothermal bank loan support price upside down

The tide is sweeping to grab a second tier city, housing prices and auction placards apparently emboldened also depends on the degree of affinity with the bank. "Large and medium-sized enterprises often been able to successfully take, because most of these housing prices and housing prices and local small and medium housing prices from the beginning is not on the same starting line, a master of the real estate business and finance lawyer" Securities Daily "the reporter said," the price auction is a kind of procedural justice, but in fact, large and medium-sized housing prices in the capital costs than small and medium housing prices much lower, two types of companies for the breakeven point in the same plots measure out is not the same, not the same quote emboldened natural". The data confirms these people say. "Securities Daily" reporter noted that behind the banking industry as the main support for the financing of housing prices in the capital, part of the development of loan price is almost lose, if the financial products Lanchu and equate the enterprise so that the optimal bank lending base rate (LPR) is the leader of the loan has been lost. "The most expensive land boom comeback The real estate industry to the inventory of the voice still ringing in our ears, a new round of looting geothermal seems to have quietly struck. China Index Research Institute data show that in April, 300 cities nationwide total land premium of 149 billion 500 million yuan, an increase of 14%, an increase of 77%; the second tier city, the total land premium reached 117 billion 600 million yuan, accounting for nearly eight percent, an increase of 33%, an increase of 247%; the three line of the city total land premium 31 billion 300 million yuan, first-tier cities is only 600 million yuan. The land behind the substantial increase in gold, the most expensive land frequent "contribution" naturally denied. CRIC real estate research center statistics show that this year, including the north of Guangzhou Shenzhen and Nanjing, Suzhou, Hefei City, a total of 20 hot line more than a continuous high fever key city land market, "three high" (high price, high price, high premium) to block out, up as much as 118. The 51 land premium rate of more than 100%, up to 400%. CRIC data also show that since April, the total price of the top ten plots the average premium rate of 106%, the vast majority of land premium rate of more than 80%. Which is the largest in Nanjing, the list of up to 6 pieces of land area, remarkable. In Nanjing the new unit to the king of Gezhouba Dam in 110% cases, the premium rate of competing in Central Hexi G14 plots, equivalent to the floor price of 45 thousand yuan / square meters, after a lapse in April once again to refresh the record of the king of Nanjing, and the floor price of 45 thousand yuan / square meters, more than the area of all items in the sale price. From the most expensive land behind housing prices, investment, poly, Vanke and other large housing prices have different degrees of participation in the most expensive land for. According to media reports, recently ranked 37 poly housing prices to 5 billion 450 million yuan competing in Pudong, a block, a premium of 297.8%. The land is considered to be the Shanghai history of the most stringent land transfer conditions". Some analysts said, from the price of land, the future price may exceed 70 thousand yuan / square meter. And before this, Beijing City, the three plots were sold at high prices: Daxing Huangcun plots were the first to take 3 billion 340 million yuan, closing floor price 35 thousand and 700 yuan / m2; Changping Nan Shao Zhen 2 homestead by China Merchants Shekou to take total 6 billion 195 million yuan, closing floor price reached 33 thousand and 800 yuan / square m and 35 thousand and 200 yuan / square meter. Bank loan support A single block of hundreds of billions of dollars, and the need to hoard around the real estate enterprises display can not only rely on their own cash flow to support land grab. Support an edifice, in fact, is the bank credit funds. "Securities Daily" reporters selected housing prices listed on the financial report found out, although housing prices are now diversified financing channels, the issuance of trust plan, the introduction of the Fund (or limited partnership), overseas bonds became part of the housing financing, but bank credit or bills still is the main channel for financing housing prices. COFCO Property in the 2015 annual report said, "the real estate industry is a capital intensive industry, land reserves, a series of project development process occupies a large amount of funds, raise funds in a timely manner, ensuring the control cost of capital funds to pay, is an important factor of sustainable survival and development of real estate enterprises. At present, companies and banks have maintained good relations of cooperation". COFCO Property report shows that in 2015, long-term loans due within one year, involving 15 banks, including many state-owned big firms, joint-stock banks and even foreign firms. In addition, long-term loans of the company's top five, there are 3 loans from banks. The group at the end of 2015 financing balance 39 billion 285 million 300 thousand yuan, bank loans accounted for 55.91%, accounting for 31.41% of bonds payable, other loans accounted for 12.68%; long-term debt accounted for 60.34% of the proportion of interest bearing debt, debt maturity structure is reasonable; the interest bearing liabilities, domestic debt accounted for 95.55%, accounting for 4.45% of foreign liabilities. During the reporting period, the company capitalized interest payments totaling RMB 1 billion 793 million yuan, not capitalized interest expense 1 billion 147 million yuan rmb. At the end of last year, Xu Hui group of outstanding bank loans amounted to approximately 23 billion 955 million yuan, including the bank and other loans of about 11 billion 658 million yuan, the carrying value of RMB 4 billion 21 million yuan bonds within the company and the carrying value of RMB 8 billion 276 million yuan overseas senior notes. At the end of 2015, the company has not yet used bank financing of RMB 1 billion 521 million yuan. The loan interest rate almost lose" In fact, since 2014 the central bank cut interest rates for the first time since November, after several RRR, interest rates, and market liquidity of bank capital adequacy, for housing prices can be said to support logical. However, from the development of loan pricing, the bank has almost lose". The report shows that, in 2015, the overall average cost of financing the group is 5.32%, the amount of interest capitalization 1 billion 793 million yuan. Because in all types of debt, bank financing costs are significantly lower, so it can be judged, the average cost of financing bank loans of the group in 2015 will be significantly lower than 5.32%. But with state-owned background of Xiamen China World Trade Center bank financing the lowest interest rate to 3%, far lower than the commercial bank's one-year lending rate. Although listing Corporation h Xu Hui group financing cost is much higher than the central enterprises or state-owned background of the listing Corporation, but the financing cost is all the way down: at the end of last year, all the weighted average cost of debt (including bank loans, corporate bonds and other domestic and overseas senior notes) was 7.2%, and by the end of 2014 8.3%. "Securities Daily" the reporter also noted that the current LPR has dropped to 4.3%, part of the central enterprises and state-owned background of listed enterprises is clearly the best enterprise standard "". In contrast, the bank Lanchu cost is always high, the majority of small and medium sized banks financial products yield is still higher than 4.5%. In other words, if the financial products Lanchu and equate the bank LPR loans are peibenzhuanyaohe. Of course, the bank is not only to make cries. Banks certainly do not want to make money, but the quality of Companies in negotiations with banks often occupy a dominant position, a good real estate business and finance lawyer "Securities Daily" the reporter said, "after all, records from the past, the probability of occurrence of large housing prices of non-performing loans is relatively low, even even the controversy and litigation rarely happen". For high-quality companies, banks often pursued by the premium in quantity, a city firm concerned further on the "Securities Daily" the reporter said, "from the perspective of risk control, the bank's loan structure must also contain a significant proportion of low-cost but high-quality loans. In addition, the deposits pressure is relatively large, high-quality loan customers to reduce the background, large housing prices really are scarce resources, although the bank holding funds, but in most cases, banks are actively striving to become the large real estate enterprises sponsored by a bank or a strategic partner, this can be in the form of comprehensive business advantage Corporate Banking Services field." Securities Daily lifting socket

The "Financial Street forum" will focus on financial services supply side reforms

Beijing May 25 Beijing Xinhua (reporter Chen Kangliang) reporter 25, the organizers learned that 2016 of the fifth Financial Street forum will be held in May 28 to 29 held in Beijing, the forum of "new opportunities, new finance, new development" as the theme, will focus on the financial services supply side reforms. Why credit growth lower than expected, how to promote the new three layered, the supply side structural reform entered a crucial stage, the financial industry how to do service work and so on, focus of attention of the outside world, in the "big coffee studded" Financial Street forum is expected to find the answer. It is reported that, at the Financial Street forum, including "three" and other regulatory agencies at home and abroad, leading scholars in the field of finance, financial institutions responsible for the financial industry from all walks of life, on the "macro economic situation and financial sector reform and innovation", "finance to promote the coordinated development of Beijing Tianjin Hebei", "financial services The Belt and Road", "financial services supply side reforms" are discussed in detail. According to the organizers to provide a list of the forum invited to the digital Chinese top think tank economists including: senior researcher at the State Council Development Research Center, deputy director Wu Jinglian, deputy director of the NPC Financial and Economic Committee of the State Council Development Research Center Wu Xiaoling, Zhang Jun Hu Angang, Dean of Tsinghua University, national expansion, National Institute of Finance and development laboratory director Li Yang, School of economics and management, Tsinghua University professor Li Daokui, Hong Kong chief economist Ba Shusong, three of the bank's monetary policy committee, including the National Development Research Institute of Peking University, vice president of Huang Yiping College of economics and management Tsinghua University vice president Bai Zhongen, the central bank monetary policy committee member Fang Gang; two Nobel prize winners include: 2007 Nobel laureate Eric Maskin, 1997 the Nobel Economics Prize winner Myron Scholes. How to service the supply side financial structural reforms, is expected to become a hot topic in the forum. Authorities recently pointed out that to promote the supply side structural reform is the main line of economic work in our country at present and in the future, is a can not afford to lose the war. At present, some of the program has been basically formed, then the Central Committee will also study and promote the implementation as soon as possible. In this process, how to adapt to the financial situation, to play a supporting role should be good? The main forum 29 held specifically set speech and dialogue session, invited the central bank's monetary policy committee baichongen, Nobel laureate Myron Scholes, China life-insurance company president Miu Jianmin, economist Fang Gang and other celebrities in the collision point of view. According to reports, founded in 2012, the Financial Street forum, organized by the Beijing Municipal People's government, the people's Bank, China Chinese CBRC, CSRC, CIRC Chinese Chinese support units, hosted by the Beijing Municipal Finance Bureau and the Xicheng District people's government, the Beijing gold Expo investment company executive organizer. (end) halfen frimeda

Bank credit card customers for the new technique of "brute" heavily hit the first brush

At present, the new ceremony first brush credit card issued by the most in more than 50 yuan – reporter Mao Yuzhou Different from the previous long type fight, fight, now the new customer credit card battle tends to be simple and crude, but the first brush Li is banks relied heavily on the killer. According to the "Securities Daily" reporter to incomplete statistics, the first brush gift present new credit card issued by the most in more than 50 yuan. However, banks more incentive to do cards, in addition to the cardholder feedback outside, also attracted some attention of the party to pull out the wool, the high amount of part of the bank's first brush prize, spawned a number of professional card users. To lead off Credit card customer manager in crowded places to open mobile card site, using a small gift card to attract people to fill out the information, which was off, according to the actual amount of bank card payment to the customer manager compensation, this is the most traditional credit card promotion mode. With the popularity of the Internet channel, the network card has become more and more convenient, the main channel of the card from the line moved online, and the bank in order to attract cardholders are increasing the amount of the first brush gift. For example, the Construction Bank issued The Voice of China joint credit card, the success of the card after qualification, a success after spending 1 pen (not limited to the amount), you can receive a good voice star student song CD and Autographed photos. According to the "Securities Daily" reporter from the star fans learned that song CD and signature of the prices in the hundreds of yuan, signature and CD players high popularity can even be sold to thousands of dollars, that is to say, if the cardholder can apply for a credit card, to obtain the actual reward will be in one hundred yuan of above. Recently, China Everbright Bank and China CITIC Bank and Jingdong jointly issued the white card mall, new customer application and activation of the first brush that can receive 50 yuan steel BEng (limited to the first 100 thousand), with the integral form of gifts, and the 50 steel coin equivalent to RMB 50 yuan. In addition to a joint credit card can have exclusive gifts, many banks also have a very generous gift card. Successful bid for the the Great Wall World Bank China credit card (double BOC logo), BOC credit card, bank card (double fitness logo) and silver titanium Ms. credit card bank credit card Chinese new customers, during the event, the success of any of the above application card, activate and de Fei Man first brush 99 yuan, you can free life the annual fee, and can receive a premium gift, gifts were one of three, the actual value of the gift in one hundred yuan of above. A bank credit card center who told the "Securities Daily" reporters, after a card to the customer manager Commission is 30 yuan to 50 yuan, now the bank the money directly to the cardholder body, it should be said that the cardholder benefits more than before. "Pull out the wool party" enrichment The bank is more and more high card rewards, in addition to the cardholder feedback outside, also attracted some attention "to pull out the wool party. Especially high amount of part of the bank's first brush prize, spawned a number of professional card users. For debit card, according to the CBRC, strictly limit the number of open cards: a commercial bank to open a debit card in principle no more than 4 tickets for the same customers. Have been for more than 4 debit card customers should take the initiative and customer contact card verification of banking financial institutions. After verification found I will handle the service shall be suspended, and properly handle. However, this provision does not apply to credit card, therefore, in principle, the residents can still be in the same bank for multiple credit cards. A wool off said the reporter, now apply for a credit card is through the network channels, no other costs, but if the application once again for the time, according to his experience, the bank is not consistent in the standard for customer qualification examination in different periods, one month does not pass, perhaps next month by the therefore, to cast a wide net". But the wool off also admitted that the amount of the first batch of this card is very low, even 1000 yuan, but without prejudice to get reward, after all, do card itself is to reward not to overdraft consumption, do not want it to finish the activity card pin card. In a certain month off the senior wool harvest list, with a column of BOSS wool (worth 2360 yuan), Germany's FISSLER pan (worth 3260 yuan), and a platinum AI pot (worth 418 yuan), Wenger box (market price of 369 yuan), Jingdong and WAL-MART electronic card a voucher, the reporter estimate, the total value of nearly million yuan prize. A joint-stock commercial bank credit card center who told the "Securities Daily" the reporter said, in the number of cards, credit records for each applicant including the previously handling credit card records will have relevant qualification review, but in the overall framework, customers have a credit card number is not directly the effect of the card, but the amount will be limited. The wool Party's behavior, the person said, in the bank card, sometimes unable to distinguish whether the applicant is wool party, the system will have its own set of criteria, each bank is different, for example, a cardholder repayment period before the time is in May 30th, in the early 6 and large amount of the brush. Repeated several times, the system will be judged as a malicious credit card, then the bank will reduce the amount of the active constraints, but in essence, it is difficult to eliminate the wool party. Securities Daily steel chamfer

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